Tag: system

Visa is looking for a partner for the Russian domestic processing: to no avail

Visa has not yet found a partner for the Russian domestic processing, told the head of the company’s innovation department "Visa Russia, the CIS and South-Eastern Europe" Andrew Aleykin.Visa continues to search for Russian domestic partner.

"Once it is completed, we will inform", – he said.

The law on the establishment of Russian payment cards of the National System (NBTS) and ensuring the smooth operation of international payment systems, was adopted in the spring of this year, after Visa and MasterCard have refused to serve the customers of a number of Russian banks, came under US sanctions because of the inclusion of Crimea in structure Russia. It contains a prohibition on the unilateral termination of the provision of services not only to operators of payment systems, but also operators of payment infrastructure, settlement centers, as well as the participants in the payment system.

In addition, the payment system operator, which is not a national importance, is obliged to submit to a special account with the Central Bank a security deposit. The premium has become a major challenge for the international payment systems. He equated the amount of money transfers in the territory of Russia in the framework of the payment system in two days. Morgan Stanley’s experts assessed the contribution rate for MasterCard to $ 1 billion, and for Visa – almost twice as much: $ 1.9 billion.

June 25 has been published for expert discussion draft decree giving reprieve Visa and MasterCard to pay contributions until 31 October. During this time they will find partners in Russia.

Within the framework of St. Petersburg International Forum in May of payment systems management held talks with representatives of the Russian government, following which it was announced that Visa and MasterCard will continue to work in Russia.

Companies create subsidiaries, which will be integrated into the formed national payment system. Operators six months to cooperate with the Russian payment systems, and then it will take another year and a half to create "daughters". Processing will be carried out in Russia.

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Regulators in doubt: where to wait for a crisis?

The financial crisis seems to have become an expected part of the economic cycle, but they seldom repeat themselves. In 1980-ies. was a hotbed of Latin America, in the late 1990s. – Russia and South-East Asia in 2007-2008. – US banks and the real estate market.
Today, some fear that a new crisis will happen in the asset management sector.

sector companies control $ 87 trillion, of BlackRock investment fund in the world’s biggest manages assets of $ 4.4 trillion, which is higher than the balance of any bank giant.
After the recent financial crisis, regulators have tightened business rules for banks: now they must have more capital and sufficient liquidity to cope with short-term pressures. But it can be an act of “the last and decisive battle.”

Having a situation where banks have sharply reduced their lending, companies are increasingly turning to debt instruments (which are mostly owned by investment funds) for lending, writes the British magazine The Economist.
asset management companies have been the cause of the financial problems in the past.

The collapse in 1998, the hedge fund Long Term Capital Management, which led by industry veterans, professors, and two Nobel Prize winners, has led to this shock on Wall Street and the urgent intervention of the Federal Reserve. Trying to save two hedge fund was one of the main reasons for the collapse of Bear Stearns in 2008
That same year, the money market funds managed by a group of Reserve, announced that the net value of its assets fell below $ 1 ( “break the buck”), with the result that the Fed once again had to intervene urgently.
All these events are quite concerned about the regulators.

In January, the international organization Financial Stability Board (Financial Stability Board) published a consultative paper, which offers qualified Asset management companies as “systemically important financial institutions” and their activities are strictly regulated.
The latest report of the Bank of England expressed concern about pension funds and insurance companies that are no longer performing the role of stabilization in the market and are increasingly using short-term market decline to make a profit by buying cheap assets.
In response, the asset management sector expressed their counterarguments. Firstly, funds act as stewards of capital clients, which is placed in separate accounts (with a third party, they act as gatekeepers). Banks such as Lehman Brothers, on the contrary, speculating customers money on their behalf.
Even if the asset management company will declare bankruptcy, its assets will be transferred to a competitor without losses to investors.

Hundreds of closed-end mutual funds every year, and their care has minimal impact on the market and does not require a rescue from the government.
Secondly, a comparison with incorrectly banks; except for hedge funds, asset management companies tend not to work with borrowed money. BlackRock balance of only $ 8.7 billion, while HSBC is almost $ 2.7 trillion, which is 300 times greater. Thus, the funds less vulnerable to an unexpected drop in prices for assets than banks that confirmed the crisis of 2008
Third, there is little evidence that the asset management company can become a cause of panic in the market. According to a nationwide non-profit organization The Investment Company Institute, the fall of 2008 or the stock market is at its lowest point in the mutual funds accounted for only 6% of all the shares of sales in New York.
All these arguments are quite convincing, and regulators do not hide that they are in a difficult situation, like between a rock and a hard place. Their goal is to anticipate future crises that may not be similar to the past. Following this logic, they are closely monitoring those sectors in which there was no crisis.

This alarm can be compared with the risk to the well-known game “Beat the mole” (Whack-a-mole), when the hammer has one seat and a toy mole jumps out from another location.
Some of the problems that worry regulators were partly their fault. For example, lack of liquidity in the corporate bond market is a result of the restrictions imposed after the crisis. If regulators this time decide to “put pressure” on the investment funds and asset management companies, they can get a situation similar to the game “Beat the mole.”

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Facts you should know about Scotland

On the eve of the planned referendum on Scottish independence increasingly appears in the media of news, forecasts, warnings. We all know that Scotland was part of the United Kingdom for more than three centuries, but it is quite different from other parts of the UK. We scored as many as 50 facts you need to know about Scotland.

1. Unicorn – an animal which is depicted on the emblem of Scotland.

2. The shortest regular flights in the world take place in Scotland. trip length is half a mile – from the city Westray to Papa Westray in the Orkney Islands. Travel lasts 1 minute 14 seconds.

3. Scotland takes about 790 islands, 130 of them are uninhabited.

4. Skara Brae – Neolithic village, located on the island of Brae, Orkney, is the oldest building in the UK which dates back to 3100 BC

5. In the Mausoleum of Hamilton in South Lanarkshire longest echo in the world – it lasts 15 seconds.

6. In Scotland, more than 600 square miles of freshwater lakes, including the most famous Loch Ness.

7. The capital of Scotland, Edinburgh is the second largest city after Glasgow.

8. Edinburgh was the first city in the world, in which there was its own fire brigade.

9. As with Rome, Edinburgh was built on seven hills. The city is the largest number of monuments than anywhere else in the world.

10. Prior to 1603 in Scotland had its monarch. After Elizabeth died I, Iakov VI Scots was also controlled as Scotland and England, as a result it has also become Jacob I England.

11. The City of St. Andrews is considered "the birthplace of golf". Here it is played back in the 15th century.

12. It is believed that Koroleva Viktoriya during her visit to the Scottish Highlands smoked a cigarette to ward off gnats.

13.Edinburg became home to Skye Terrier Greyfaersa Bobby, who captured the hearts of all who know his story.

After the owner’s death, Bobby every day for 14 years, came to the cafe, where used to be with the owner, received a muffin and returned to the master’s grave in the cemetery. There he met his death and was buried. In Edinburgh, there is a fountain with a sculpture of Skye Terrier. The monument was erected in 1872 after Bobby’s death, which has earned a reputation as the most faithful dog in the world.

14. In Scotland at the moment – the second largest country in the UK, after England.

15. The highest point of Scotland – Ben Nevis, 1343 meters.

16.Deviz Scotland – “Nemo me impune lacessit”, or: "Nobody will touch me with impunity". It is used by the Order of the Thistle, and in later versions of the Royal Coat of Arms.

17. Scotland – favorite country of the royal family who likes to relax in the castle of Balmoral on the banks of the River Dee.

18. In the north-east of the country girls called “quines”, and young men – “louns”.

19. The first recorded appearance of the Loch Ness Monster was in 565 AD, when the monster attacked one of the followers of St. Columba.

St. Columba – Irish holy monk, the preacher of Christianity in Scotland. St. Columba is one of the twelve apostles of Ireland. In the year 563 Saint Columba founded the first monastery in what is now Scotland and was rector there.

20. The Scottish city of Aberdeen is known as the oil capital of Europe, as well as the Granite City.

21. The deepest lake in Scotland, Loch Morar, reaches a depth of 328 meters, and is considered the seventh deepest lake in the world.

22. The smallest viskarnyu Scotland Edradur in Pitlochry, visit 000posetiteley 100 a year, but it produces only 90 000 liters of malt whiskey.

23. Scotland – birthplace of the oldest tree in Europe, fortingelskogo yew, whose age is about 3000 years old. According to local legend, Pontius Pilate was born in the shadow of the yew tree, and played there when I was little.

24. The raincoat was invented in 1824 in Scotland. It was invented Charlz Makintosh, a chemist from Glasgow. In the UK, the cloak is still called “Mac”.

25. The state religion of Scotland – Christianity.

26. Scotland gained independence in 1314, when Robert Bryus defeated the English army at the Battle of Bannockburn.

27. The Kingdom of Scotland was an independent until May 1, 1707, when the Act of Union Scotland joined England to form a single state – the United Kingdom of Great Britain.

28. July 1, 1999, for the first time since 1707, Scotland got its own parliament.

29. The territory of the country is 78,772 km ?.

30. The country’s population – about 5.2 million, is about 8.5% of the total UK population.

31. Population density – 65.9 people / km ?..

32. In North America, lived about the same as the Scots, as in most of Scotland, while, according to the US Census and Canada, about 5 million people claim that they have Scottish roots.

33. Scotland has its own judicial system, distinct from England, Wales and Northern Ireland. The jury could return a verdict of “guilty”, “not guilty” and “proven guilty.”

34. Bank of Scotland, founded in 1695, is the oldest existing banks in the UK. He was also the first bank in Europe, which began to produce their own banknotes.

35. Among the famous Scottish inventors – Logue John Baird who invented television in 1925, Aleksandr Grem Bell, who invented the telephone in 1876, and Alexander Fleming who invented Penicillin in 1928.

36. The first university clinic in America, Baltimore Infirmary, founded surgeon from Glasgow Granville Sharp Pattison in 1816.

37. In Scotland, the three official languages: English, Scottish and Gaelic, which is spoken by only 1% of the population.

38. In Scotland, 19 universities and colleges, including the University of St Andrews, where they met the Duke and Duchess of Cambridge – William and Kate.

39. The area of ​​Scotland, roughly equal to the area of ​​the Czech Republic, the United Arab Emirates, Panama, the State of Maine in the US or the Japanese island of Hokkaido.

40. Two of the first Prime Minister of Canada – Dzhon Makdonald (1815-1891) and Aleksandr Makkenzi (1822-1892) – were Scottish.

41. One of the most famous products produced in Scotland – whiskey – was invented in China. At first it was distilled monks in Ireland in the early 15th century, and only after 100 years of whiskey came to Scotland.

42. The most infamous Scottish dish – haggis. It is made from sheep’s offal – liver, heart and lungs boiled in mutton stomach. It is not known where it originated, but similar dish mentioned in Greece 2500 years ago.

43. Scotland – birthplace of many great thinkers, including Adam Smith, James Watt, David Hume and Dzhona Styuarta Mill.

44. Among the famous Scottish inventions – logarithms (1614), bitumen (1820) and the tire (1887).

45. Many known Scottish invention – kilts, tartan (checkered pattern) and pipes – not been invented in Scotland. Kilts originated in Ireland, plaid ornaments were discovered in central Europe, the Bronze Age, and the bagpipe came from central Asia.

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Microsoft presented Windows 10: wait for the company’s stock rise?

Today was the
presentation of the new version of one
of the most popular operating systems
in the world – the company Microsoft I called it Windows
10. Many of those who followed the presentation,
first asked the question –
why the version number 10, if the previous version was Windows 8?

Microsoft representatives
introduced a new version of its
operating system at an event in
San Francisco just this morning.
It should be noted that this is not the final
operating system version, and all
a “pre-engineering”
Windows 10. This means that neither bought nor
update is not yet possible at the
ordinary users.

Access to
technical version will receive only
experienced users, who will be her
test and help improve it.
Microsoft also said not a word about the future
the price of the operating system, so there is hope that
after the final run Windows
10 users will be able to upgrade
until it is free – it is this policy
company Apple, whose
users can upgrade to the new
version for free if
device “hold out” Technical
parameters.

Briefly about new products,
who are waiting for the new usersWindows 10, it should be noted that the system is
It is increasingly becoming a “universal” –
it will be suitable for any device
(Whether you have the Xbox, computer, phone, tablet,
or other gadget). For all of these devices
Microsoft creates a single platform and a single
app store. among the main
changes – returned to the “Start” button in the
menu, users can browse
lists of frequently used files and
programs, and a new button
task management, which will allow
see all running applications and
files, and quickly switch between
them.

While the presentation
technical version of the strong influence
Microsoft does not stock company
provided, that is. to. the American Stock Exchange has
not started trading. According to the results of yesterday’s
of the session, shares fell by 0.17% – up
$ 46.36 on the stock exchange
NASDAQ, but now much
little movement on the stock exchange in Frankfurt
– Microsoft shares rose
0.80% – up to € 36.93
from € 36.63.

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European banks are unhappy with Mario Draghi

representatives of control
ECB Governing Council wish to speak against Mario
Draghi today. He said yesterday
Reuters.

The national central
banks operating in the euro zone plan
led the European challenge
Central Bank Mario Draghi this
Wednesday for his “secretive style” management,
urging him to act more
collectively. especially bankers
outraged that Draghi announced publicly
about the purpose of immediate increase in the balance
ECB, though the council was not going to do
any public statements.

"Mario became some
… more secretive and less collegial.
National leaders sometimes banks
feel in the dark", – he said,
a veteran of the ECB. Even members of the board
The ECB had not been informed in advance
on two key recent statements,
said two source.

Following the
stress tests of European banks, many
investors wary – they are afraid
repetition of 2010, when the Irish banks
We passed the stress tests shortly before
as the country’s financial system collapsed,
writes the FT.